[Introduction: The Midnight Stabilizing Force]
It's twelve o'clock, and the rain outside is still falling (the Twitter insults and the market's slow decline).
Many people can't sleep, thinking, the market is flooding, Binance is being criticized, why is BNB still hanging there without collapsing? Is it because the big players are propping it up?
I took a sip of wine and laughed.
What big players propping it up? BNB is not falling today because its foundation was established years ago.
This is probably a story that many new investors don't know. Tonight, the tea is hot, and I'll tell you about the 'evolution' of BNB from 0.15 dollars to today.
Chapter One: The 'Coupon' in the White Paper (2017)
Do you remember the summer of 2017? Back then, I was young too.
When BNB first came out, the white paper was written very simply: deduct handling fees.
What did everyone call it back then? 'Coupon'.
At that time, we all thought the fate of this thing was to be consumed. You buy some BNB to save that 50% handling fee and throw it away when done.
Who would have thought that this was actually a seed? Back then, BNB was like a rookie just entering the world, only able to do odd jobs, and no one looked at it properly.
Chapter Two: The Birth of the Golden Shovel (2019)
The turning point occurred in 2019.
Binance created something called Launchpad. As long as you hold BNB, you can participate in new projects.
This move directly transformed BNB from a 'consumable' to an 'asset'.
Back then, we called it the 'Golden Shovel'. Holding BNB, you could continuously dig for gold.
This is the first layer of internal skill achieved by BNB: granting rights. It tells the market that I can not only save money, but I can also make money.
Chapter Three: Ambitions of the Public Chain Era (2020-2021)
Next came DeFi Summer. Ethereum was so expensive it made people want to curse, transferring tens of dollars.
At this time, BSC (now BNB Chain) emerged.
This move is incredible. BNB transformed from exchange points to the Gas (fuel) of a public chain.
This is a qualitative leap. From that moment on, BNB no longer belongs to Binance as a company; it belongs to countless small dogs, lending protocols, and chain games.
It became infrastructure. As long as there are still people playing on the chain, BNB must be burned.
This year, BNB surged from dozens of dollars to hundreds of dollars, completing the transformation from 'weapon' to 'foundation'.
Chapter Four: Rebirth from the Ashes and Anti-Fragility (2023-2024)
This is probably the chapter everyone remembers the most.
4 billion dollars in fines, CZ's departure.
At that time, how many people on Twitter were shouting 'Binance is finished', 'BNB will go to zero'.
So what?
BNB, like a master struck by a palm, spat out blood, stood firm, and its internal skill became even deeper.
Why? Because this proves it has removed the risk of 'humans'.
It proved that even without CZ, this system can still operate precisely. This tribulation allowed BNB to completely achieve the 'indestructible body'.
[Final Chapter: Why Doesn't It Drop Today?]
Back to tonight's question.
Why did the market drop, but it didn't?
Because after nine years of ups and downs, BNB is no longer the coupon it used to be.
The current BNB is supported by three pillars:
1. Necessity: It is the token of the world's largest trading platform and the fuel of the most active public chain.
2. Deflation: Regardless of market conditions, every quarter there is burning, and the total supply keeps decreasing.
3. Faith: It is a totem that stands tall even after being bombarded by regulatory nuclear bombs.
Drop? Where to drop?
On this turbulent night, everyone felt uneasy exchanging money for U, they had to exchange for the hardest assets.
And in today's crypto world, apart from Bitcoin, the hardest one is called BNB.
The whiskey is finished, the story is over.
Staring at the K line anxiously is useless.
Understanding the history of BNB means understanding the future of this industry.
Sleep well, those who have BNB deserve a good night's sleep.
@Yi He @CZ @币安广场 @币安Binance华语 $BNB
